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The Myanmar Investment Commission (MIC) has allowed 16 domestic and foreign investments, including a company to provide services for an offshore oil producer, during a meeting held on July 11.

They are eight joint-ventured investments, six domestic schemes and two foreign investments.

A company from Myanmar, Fortune International Limited, is due to invest in the building of apartments, apartment villas, offices and shopping complexes in Mayangone Township in Yangon Region and rent them out.

Myanmar's major export items in the first three months of this 2017-2018 fiscal year were gas, CMP(cutting, making and packaging) garments and agricultural produce, according to the Ministry of Commerce.

Over the past three months, the country's trade value amounted to US$7.8 billion, with US$3.2 billion in the export sector and US$4.6 billion in the import sector.

Compared with the same period of last financial year, this year's trade value exceeded US$1.3 billion, with US$0.5 billion in export and US$0.8 billion in import.

As Asean countries prioritise on improving connectivity within and beyond the region, Myanmar has planned to take advantages of its strategic location between the two most-populated nations_ China and India to become a hub of maritime trade in Asia, transport authorities say.

Kyaw Myo, deputy minister for transport and communications, said at the 15th Asean Ports and Shipping Conference 2017 the development of ports and shipping industry would be a driving force for Myanmar’s integration into the global economy.

Construction and housing development bank (CHDB), a property-focused lender under a public-private partnership scheme, has planned to open more housing saving accounts and provide loans to low-income people in Myanmar from this year onwards, according to its executives.

THOUGH MYANMAR’S growth is expected to recover in fiscal year 2017-18 (ending March 31) to 7 per cent yearly after the economic slowdown last year, ASEAN+3 Macroeconomic Research Office (AMRO), the regional macroeconomic surveillance unit of Chiang Mai Initiative Multilateralisation, has warned of significant macroeconomic risks that could derail the nation’s favourable outlook.